Mumbai: Media firm New Delhi Television (NDTV) on Thursday said it will buy back NBC Universal’s entire 26% stake in its subsidiary NDTV Networks Plc.
In a filing to the Bombay Stock Exchange NDTV said the company, through its subsidiary, has agreed to buy back NBC Universal’s 26% stake in its subsidiary NDTV Networks Plc with an aim to consolidate its position.
NDTV Networks Plc is the holding company of the non-news business of the broadcaster.
However, the company has not disclosed the financial details of the transaction.
In May last year, NBC Universal had entered into a strategic partnership with NDTV for an indirect 26% stake in NDTV Networks Plc.
Shares of NDTV were trading at Rs161.55 on the BSE, up 2.57% from previous close